Stepan Company reported unaudited consolidated earnings results for first quarter ended March 31, 2018. For the quarter, the company's net sales were $499,335,000 against $466,269,000 a year ago. Operating income was $39,655,000 against $46,230,000 a year ago. Income before income taxes was $37,664,000 against $44,330,000 a year ago. Net income attributable to company was $30,723,000 against $31,913,000 a year ago. Net income per common share attributable to company was $1.31 against $1.37 a year ago. Adjusted net income was $32,030,000 against $31,700,000 a year ago. Adjusted diluted EPS was $1.37 against $1.36 a year ago. Net debt as on March 31, 2018 was $46.2 million. Capital spending was $27.4 million versus $20.4 million in the prior year quarter.

For the full year, capital spending to be between $105 million and $115 million. The company continue to expect the full year effective tax rate to be in the range of 20% to 23%.